Tuesday, July 12, 2005

Japan privatizes post office

As a Hayakian libertarian (read "pragmatic"), I have long advocated for privatizing many of the functions that gov't now monopolizes. The best argument for doing so is that when competition dominates a market, quality increases and prices decrease. History has shown us this over and over. Privatization also advances liberty by limiting the scope and scale of government, giving more choice to individuals and decreasing the reasons for burdensome taxation. Japan's Prime Minister Junichiro Koizumi succeeded last week in passing a bill that will privatize Japan's Post Office system which, in addition to providing postal service, which also sells insurance and investments and controls trillions of yen. I congratulate Japan on this move and encourage all Americans to see the wisdom in limiting government, expanding competition and advocating private solutions to public problems. For more on the Japan Post privatization act, click here